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For rate-lock policy see FAQ's
No
Application Fee
No
Lock-In Fee
No
Processing Fee
No
Prepayment Penalty
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| 1. |
Why use a Mortgage Broker? Answer |
| 2. |
What should you ask a mortgage broker first? Answer |
| 3. |
Do you collect an application or processing fee? Answer |
| 4. |
When can I lock my rate? Answer |
| 5. |
Should I pay points? Answer |
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Q
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Why use a Mortgage Broker? |
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A
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Price and service; the banks and the credit unions simply have not been able to compete on either. |
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Q
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What should you ask a mortgage broker first? |
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How long have you been in business? |
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Q
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Do you collect an application or processing fee? |
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A
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No - never have, never will. |
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Q
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When can I lock my rate? |
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A
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Immediately upon application, receipt of all requested documentation, and payment of the appraisal. |
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Q
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Should I pay points? |
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A
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In most instances the best choice is the loan with the least closing costs, including points. |
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Rate Survey
30 yr Fixed
Bankrate.com
8/13/08
BankAmerica
7.25%
Regions Bank
6.75%
Raymand James Bank
6.75%
Colonial Bank
6.75%
FHLMC
US Bank Average
8/13/08
6.63% + 0.7pts |
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